Infosys founders likely to come back or have proxies

Talking to ET Now, Shriram Subramanian, InGovern , says Vishal Sikka’’s resignation is just the first of many steps and the composition of board is likely to change.

Edited excerpts:

What do you make of the latest development in Infosys? What does it mean for all the stakeholders’ concern?

Over the past few years, there has been misalignment between the views of the founders, the board and the Managing Director Mr Vishal Sikka. So this needed some correction and I am sure the resignation of Mr Sikka is just the first step because I foresee that there will be changes in the board. I foresee that now the founders will either have some proxies on the board or be themselves on the board so that they are at least in control of the value system of the company. I think the governance needs a complete reboot and refresh and this is just the first step towards that happening.

What do you think are the odds of either Murthy or other founders taking a role? Murthy may not want to come back in an active operational role but do you think that possibility of chairman emeritus now significantly goes up?

I do not think that is needed but I do not think it would be good for the company if any of the founders come back to the board. But they for sure will have people whom they trust on the board. This is just the first step.

Link: Economic Times – 18 Aug 2017